European Union antitrust regulators will decide by June 25 whether to clear Mars' $36 billion takeover of Pringles maker Kellanova, according to a European Commission filing.
Family-owned candy giant Mars announced the deal in August last year that will bring together brands from M&M's and Snickers to Pringles and Pop-Tarts under one roof.
The U.S. packaged food sector is experiencing a wave of consolidation as companies seek scale to weather the impact of inflation-weary consumers cutting back and shifting their purchases to private label brands.
The EU antitrust enforcer can clear the deal with or without remedies during its preliminary review or it can open a four-month long investigation if it has serious concerns.
The companies are seeking to close the deal by August this year but could extend the deadline by up to 12 months if they do not receive the necessary regulatory approvals by then.
The deal should be able to withstand regulatory scrutiny due to limited overlaps between the companies, legal experts said. Media reports suggest that some European retailers have raised concerns with the Commission, which may prompt demands for concessions but not derail the deal.
Family-owned candy giant Mars announced the deal in August last year that will bring together brands from M&M's and Snickers to Pringles and Pop-Tarts under one roof.
The U.S. packaged food sector is experiencing a wave of consolidation as companies seek scale to weather the impact of inflation-weary consumers cutting back and shifting their purchases to private label brands.
The EU antitrust enforcer can clear the deal with or without remedies during its preliminary review or it can open a four-month long investigation if it has serious concerns.
The companies are seeking to close the deal by August this year but could extend the deadline by up to 12 months if they do not receive the necessary regulatory approvals by then.
The deal should be able to withstand regulatory scrutiny due to limited overlaps between the companies, legal experts said. Media reports suggest that some European retailers have raised concerns with the Commission, which may prompt demands for concessions but not derail the deal.
You may also like
'Told me she was going to Delhi, not Pakistan': YouTuber Jyoti Malhotra's father makes U-turn
Haryana espionage suspect says Pakistan 'paid him to click photos' of Sirsa airbase
Beautiful film star left disfigured by jealous friend who injected her face with cooking oil
Jason Derulo VIP tickets and how to dodge online queues and resale websites
Abandoned prison compared to The Walking Dead found with riot gear and handcuffs
